Mumbai, Feb. 9
VISHAL Exports Overseas Ltd has split its equity shares from face value of Rs 5 per share to Re 1 per share.
The decision to split the shares was approved at EGM held on Tuesday.
The company reported a 16 per cent rise in total revenues at Rs 1,752.4 crore for the nine months period ended December 2004. Net profit was up 4 per cent to Rs 26.1 crore during the same period.
Mr D.S. Mehta, Joint Managing Director, said, "We are confident that the stock split will lead to increased liquidity and that it will facilitate the retail investors to be a part of the company's growth story."
Vishal Exports's core competence is in agro-based commodities mainly in soyabean extracts, wheat, rice, and sugar. The company also has presence in wind farm activities through its 18 MW wind power generation project at Tamil Nadu and Rajasthan.